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How To Evaluate a Job Offer

realities-of-an-offer-300x169The realities of an offer are important to consider when negotiating compensation. In an blog post from February this year, I discussed what a “good” job offer is in this competitive market. In short, a 5-10% bump in total compensation would be considered a strong offer. A link to that article is here.

In this post, I wanted to look at some realities of an offer and why a 5-10% increase is the market norm. The offer stage can be a highly emotional part of the search process. It’s important to remember that on both sides of the negotiation, this is a business decision. Money is important, and negotiating is part of the process, but remember these realities of an offer when approaching the negotiating table:

Friends sort of lie – do not listen to friends or colleagues about their salary. Friends provide some of some of the most unreliable data available. First, people have egos and they tend to fudge the numbers. Second, even if your friend is completely honest about a huge job offer they got, one example does not represent the market as a whole.
You aren’t underpaid – most job seekers I talk to feel they are underpaid. In reality, very few people are underpaid. If you are a top performer with good skills, you are much more likely to be on the upper end of the pay scale for your experience and skills. The economic law of supply and demand sets a pretty standard pay scale for a given skill, years of experience, credentials, etc.
Titles don’t matter – don’t get hung up on titles. I was quoted in a Fortune magazine article the other day about this (link to Fortune article here). In short, titles aren’t universally defined. One firm’s Director is another’s Manager. The responsibilities of the job, how you will develop professionally, and what you are being paid is all that really matters.
Evaluate money last – I always talk about job search motivations at length with a candidate – well before we look at an actual opportunity. Money is important, but it should almost never be a primary motivating factor when changing jobs. A reasonable offer that accomplishes many of the career goals and objectives you were seeking is a great job offer. Even if you receive a lateral offer, why would you not take a job that offered more responsibility, more growth, learning opportunities, etc.?

By |November 18th, 2015|Uncategorized|0 Comments

Job Search Mistakes

  1. Having Only One Resume – There are no one-size-fits-all resumes. If you use a single resume for your job search, you are making a big mistake! Resumes are usually glanced over very quickly to pick those candidates selected for interviews. It is critically important for you to target your resume to the specific company/job. A bit of minor tweaking can often make the difference between getting the interview, or not. Refer to my earlier post on how to target your resume here.
  2. Applying Online – this is a classic job search mistake to avoid. The main reason is because it is what everybody else is doing! It is very easy to get lost in flood of applicants who apply indiscriminately online. Second, many recruiters hold the belief that top-notch candidates don’t apply online. Top candidates are either sought out, or come in through other methods. Finally, applying online may hurt your chances of getting an interview or proper consideration at a company. You are far better off being evaluated as an employee referral, represented by a recruiter, or recommended by someone known to the company.
  3. Not Being Selective – whether you are actively or passively job searching, BE SELECTIVE. I generally advise people to take initial interviews liberally. Meeting the people and company face to face is the best way to see if there might be a fit. After an initial interview, I suggest people get much more selective. Don’t get deep into the interview process, or take things to the offer stage, if you can’t see yourself working at the company. You’ll not only be wasting your time, but you could leave a negative impression with the people who feel like you wasted theirs.
  4. Not Networking – this is the ultimate job search mistake. Study after study shows that the best jobs, and the best chances of landing your next job lies in networking. Friends, classmates, recruiters, alumni organizations, professional organizations, and former coworkers are just some of the categories of contacts you should tap into when considering a job change. Many people don’t do this because it involves more effort, but it is absolutely worth it!

David Staiti is the founder and Managing Partner of Virtus Recruiting, LLC. He has almost two decades of executive search and recruiting experience. He’s published numerous articles on job search and career management topics for The Wall Street Journal, CareerBuilder, and Forbes.com